To Shareholders and Investors

Interim Business Report for the 89 TermthFrom April 1, 2021 to September 30, 2021

Protecting Human Lifeand Mother EarthSecurities Identification Code: 6455

BUSINESS REPORTTop Message Greeting
Over the years since our company was founded in 1907, wehave shared the path with the history of Japan’s firefighting
technology development as a top manufacturer of firefighting vehicles. We would like to express our deepest
appreciation for the warm support and patronage ofshareholders and all those concerned.
The Morita Group has the slogan “Protecting Human Life
and Mother Earth” and develops our four businesses of FireFighting Vehicles, Fire Protection Equipment & Systems,
Recycling Machines and Environmental Conservation
Vehicles while remaining committed to its mission ofprotecting human lives and property and the irreplaceable
nature on Earth and, to that end, we continue trying to comeup with greater innovations and creating new values.

The Morita Group established our new Mid-term Plan
“Morita Reborn 2025”, which sets fiscal 2025 as its final fiscal
year. In this plan, we set our basic policies as “increasing
the profitability of our existing business”, “cultivating andexpanding overseas businesses and new businesses”,“enhancing basic research capabilities and new productdevelopment”, “developing innovative human resources”
and “promoting CSR activities”. We will positively implement
these policies in order to become a global company
providing comprehensive disaster prevention solutions. With
all our energy, we will continue working on becoming acompany group widely trusted by society, so we would ask
for your continued support.

Masahiro Nakajima, Chairman & CEO
Kazumi Ogata, President

Overview of the first half of 89 th TermNet salesOperating income

Ordinary income¥27,011million¥311 million¥631 million

Profit attributable toowners of parent¥262 million

Year on year

Year on year

Year on year

Year on year

Down

Down

Down

Down

4.1%

61.5%

During the consolidated cumulative second quarter underreview, the Japanese economy continued to face difficult
situations in terms of social and economic activities, and thefuture remains uncertain due to the declaration of a stateof emergency and implementation of quasi-emergency
measures as a result of the increase in COVID-19 infections.
In this environment, the Group has continued its corporate
activities while reducing the risk of infection to employees andother stakeholders and preventing the spread of infection.
As for the results of the consolidated cumulative second
quarter under review, the Group posted net sales of 27,011

38.0%

48.0%

million yen (down 1,151 million yen or 4.1%, year on year),
operating income of 311 million yen (down 498 million yen
or 61.5%, year on year), ordinary income of 631 million yen(down 387 million yen or 38.0%, year on year), and profit
attributable to the owners of the parent company of 262
million yen (down 241 million yen or 48.0%, year on year).
As a result of the adoption of the Accounting Standard for
Revenue Recognition from the beginning of the first quarter,
net sales decreased by 1,871 million yen, and operating
income, ordinary income, and income before income taxes
decreased by 558 million yen.

MORITA NEWS

Fire Fighting Vehicles Business

Morita Participated in the Security & Safety Trade Expo (RISCON TOKYO) 2021
Morita exhibited products related to landslides, floods, and support fordisaster victims in order to help prepare for diversifying disasters
Morita participated in the Security & Safety Trade Expo (RISCON TOKYO) 2021 held at Tokyo Big Sight from Wednesday, October 20
to Friday, October 22 this year. At the expo, we exhibited actual products as countermeasures against frequent torrential rains andtyphoons, the accompanying landslides, and flood damage caused by inland flooding and flooding rivers, as well as for measures tosupport activities in the field as well as the lives of disaster victims at evacuation centers. These products included electric all-terrain
vehicle, dewatering pumps, quick flood barrier, portable LED working light, and portable power supply equipment, as well as panel
displays for mobile toilet cars, compact off-road rescue trucks, rescue airboats, and video broadcasts of other products.
Under the slogan “Protecting Human Life and Mother Earth,” the Morita Group aims to become a "Global Fire Fighting and Disaster
Prevention Solutions Company", providing products and services needed to respond to diversifying disasters.

Electric all-terrain vehicle EZ-Raider
The electric all-terrain vehicle EZ-Raider is extremely effective in areas wheretransporting materials and equipment is difficult, such as disaster sites wheredebris, earth and sand are scattered due to increasingly frequent sudden
disasters, mountainous areas, and narrow roads where vehicles cannot enter.
The EZ-Raider consists of a front cart and a rear cart, and each of the wheelson the front cart (four wheels) and the rear cart (two wheels) are equippedwith high-torque electric motors. When connected, it can operate witha six-wheel drive at most, giving it higher traveling performance. Largecapacity lithium-ion batteries and regenerative motors provide a range ofapproximately 45–80 km, and allow up to 450 kg* of cargo to be transported,with a loaded weight of 200 kg* for the front cart and 250 kg* for the rear cart.
*Including occupant weight

Electric all-terrain vehicle withhigh traveling performance andpowerful transport capability

Dewatering pump (Hydraulic/Electric)
We provide dewatering pump units and dewatering pump vehicles that contribute to dewatering activities at sites of inundation andsubmergence due to river flooding.
At this year’s expo, we exhibited hydraulic submersible pump and electric submersible pumps.

[1] Mobile dewatering pump unit

[2] Electric dewatering pump vehicle

One pump can lift water with a pump head of 20 m and amaximum of approximately 11,000 L/min. Conventional products
require two or more submersible pumps to lift more than 10,000
L/min of water. However, this product requires fewer pumps,
thus reducing installation andhose extension times and laborsaving. Equipment such as theengine and the submersible
pump is housed in the unit,
making it more compact. It
can be stored in a disasterprevention warehouse without
being carried on a vehicle
Image of truck loading
during normal times.
(permissible load 2 tons)

Morita's wide lineup of electric dewatering pump vehicles ranges
from 2,500 L/min to 30,000 L/min of drainage capacity. Users canchoose the optimal vehicle based on the usage environment (such asnarrow roads), driver's license requirements, and dewatering scale.

Dewatering pump useful for dewatering at sites of inundation and submergence

Quick flood barrier Flood Guard F
In recent years, torrential rains, typhoons, and water pipe ruptures arerising at an alarming rate, frequently causing flood damage. Flood
Guard F is a quick water barrier that can be easily installed instead ofsandbags and water bags. While sandbags used in general weigh about
25 kg per bag, this product is light at about 4.4 kg per unit, so it can beinstalled easily and quickly with a small number of people. Users canchoose the size and adjust the placement according to the location andenvironment. And no special tools are required for installation. It is ideal
for installing at entrances to stores, government offices, communitycenters, subway stations, and underground parking lots.

Quick flood barrier that can be easily installed to prevent flooding caused bytorrential rain (Left: Side view, Right: Warehouse entrance)O PERA T

I O N

H I G H L

I G H

TS

Financial Highlights (Consolidated)
Net sales

Operating income■ : First half

Unit: Millions of yen

91,52431,92586,922

31,678■ : Full-year

28,163

9,483

83,00084,667

8,855(Forecast)2020.32022.32021.3

1,424

2019.3

Ordinary income

8,100

8,855(Forecast)2020.3810

311
2022.32021.3

Profit attributable to owners of parent■ : First half

Unit: Millions of yen

10,104■ : Full-year

27,011
1,093

2019.3■ : First half

Unit: Millions of yen■ : Full-year

8,600

9,479

9,326

■ : First half

Unit: Millions of yen

6,971

6,391

(Forecast)

6,224■ : Full-year

5,500(Forecast)

2,065
1,379
2019.3

1,557

1,018

2020.32021.3728

631
2022.32019.32020.3504

262

2021.32022.3

Notes: As a result of the adoption of the Accounting Standard for Revenue Recognition from the beginning of the first quarter of the fiscal
year ending March 2022, net sales for the consolidated cumulative second quarter under review decreased by 1,871 million yen, andoperating income, ordinary income, and income before income taxes decreased by 558 million yen.

Fire Protection Equipment& Systems BusinessNet sales

Performance by Segment
Fire Fighting Vehicles Business

Operating income

Net sales

Operating loss

8,058 million yen 183 million yen

11,910 million yen 506 million yen

Year on year

Year on year

Up 10.5%

Previous year :Loss of 114 million yen

Down14.6%

29.8%
Environmental Conservation
Vehicles BusinessNet sales

Operating income

4,630 million yen 317million yen
Year on year

Year on year

Down 5.1%

Up 1.4%

Net sales
composition

17.1%

8.9%

44.1%

Previous year :Income of 378 million yen

Recycling Machines BusinessNet sales

Operating income

2,411million yen 317million yen
Year on year

Year on year

Up 17.6%

Up 73.9%

Company Profile and Stock Information
Company NameFoundedEstablished
Paid-in capital
Osaka Head Office
Tokyo Head OfficeBusiness

MORITA HOLDINGS CORPORATION
April 23, 1907
July 23, 1932
4,746 million yen
3-6-1 Dosho-machi, Chuo-ku, Osaka-shi, Osaka
5-36-7 Shiba, Minato-ku, Tokyo
Control/management of business activities ofgroup companies, and being entrusted withindirect management operations

Major Group Companies
MORITA CORPORATION 1-5 Techno Park, Sanda-shi, Hyogo,669-1339, Japan

Development, manufacturing and sales of laddertrucks, fire trucks, and specialty vehicles

MORITA MIYATACORPORATION

3-5-7 Ariake, Koto-ku, Tokyo, 135-0063, Japan
Development, manufacturing and sales of fire
extinguishing-related equipment, mainly of fire
extinguishers, firefighting equipment and fire
protection-related equipment

1530 Konoda-cho, Funabashi-shi,
MORITAENVIRONMENTAL TECH Chiba, 274-0081, Japan
Design and construction of waste recycling facilities
CORPORATION
and other waste disposal facilities. Development,manu f a c t ur in g an d s al e s o f larg e hydr auli cequipment

Executives
Chairman & CEOPresident
Director and Managing Executive Officer
Director and Managing Executive Officer
Director
Director
Director
Full-Time Corporate Auditor
Full-Time Corporate Auditor
Auditor
AuditorMasahiro Nakajima
Kazumi Ogata
Kunio Morimoto
Shinichi Kanaoka
Mitsuo Isoda
Takao Kawanishi
Masaki Hojo
Eiji Asada
Atsushi Miyazaki
Masaru Ota
Shozo Nishimura
Shinya Murai
Mitsuru Ito

Managing Executive Officer
Executive Officer

MORITA ECONOSCORPORATION

28 Techno Park, Sanda-shi, Hyogo,669-1339, Japan

MORITA TECHNOSCORPORATION

32 Techno Park, Sanda-shi, Hyogo,669-1339, JapanDevelopment, manufac turing and sales ofenvironmental conservation vehicles such as sanitation
vehicles (Vacuun trucks) and garbage collectors

Aftercare service and maintenance of fire trucks andof rescue equipment. Development, manufacturingand sales of electronic applied machinery andinformation processing machinery

BRONTO SKYLIFT OY AB Teerivuorenkatu 28, FI-33300 Tampere,
FinlandDevelopment, manufacturing and sales of combined
platform ladders and aerial platforms

Breakdown of Shares
by Type of Shareholder

As of September 30, 2021

Treasury shares 2.9%

Securities companies

0.7%

Other Japanese
corporations

8.1%
Information about the Stock
Fiscal Year

April 1 to March 31

Annual General Meeting ofShareholders

June

Non-Japanese
corporations

16.0%

Total

46,918,542
sharesIndividuals/others

Reference Dates

Annual General Meeting of Shareholders - March 31Year-end Dividend - March 31
Interim Dividend - September 30
Other dates published in advance as necessary

Method of Public Notice

Posted as electronic public notice on company website
https://www.morita119.com/ir/stock/kohkoku.html

Shareholder Registry
Administrator

Sumitomo Mitsui Trust Bank, Limited
1-4-1 Marunouchi, Chiyoda-ku, Tokyo

Handling Office ofShareholder Registry
Administrator

Stock Transfer Agency Department, Sumitomo Mitsui
Trust Bank, Limited
4-5-33 Kitahama, Chuo-ku, Osaka-shi, Osaka(Postal Address)

Stock Transfer Agency Department, Sumitomo Mitsui
Trust Bank, Limited
2-8-4 Izumi, Suginami-ku, Tokyo, 168-0063

Financial institutions

28.8%

Major Shareholders (Top 10)

43.5%

As of September 30, 2021

Name

The Master Trust Bank of Japan, Ltd. (Trust account)
The Dai-ichi Life Insurance Company, Limited
Morita Trading-Partner Shareholding Association
Mizuho Bank, Ltd.
Sumitomo Mitsui Trust Bank, Limited
MUFG Bank, Ltd.
Sumitomo Mitsui Banking Corporation

No. of shares(thousand)

4,123
3,265
2,306
2,087
2,082
2,048
2,007
1,974
1,730
1,223

(Telephone Inquiries)+81-3-3323-7111(Internet Website URL)

https://www.smtb.jp/personal/procedure/agency/Stock Exchang Listing

Tokyo Stock Exchange

NORTHERN TRUST CO. (AVFC) RE HCR00

100 shares

Notes: 1. Number of shares held is rounded down to the nearest thousand shares.
2. The Company holds treasury shares numbering 1,345 thousand shares.

Number of shares per unit

Protecting Human Life
and Mother Earth

AIR WATER INC.

Osaka Head Office
3-6-1 Dosho-machi, Chuo-ku, Osaka-shi, Osaka, 541-0045
Tel. +81-6-6208-1907

Tokyo Head Office
MORITA HOLDINGS CORPORATION

Custody Bank of Japan, Ltd.

5-36-7 Shiba, Minato-ku, Tokyo, 108-0014
Tel. +81-3-6400-3480

https://www.morita119.com